When one sees Woodlands Condo, Norwood Grand, lauching at close to S$2,000psf and still gets snapped up like hotcakes, this signal something very wrong with the property market. Emerald of Katong launched at S$2,621 psf average also gets snapped up by 99% within a single weekend signalling a red hot property market. Once the bubble bursts, many folks will be saddled with over S$1.5Mil+ of mortagages. I still believe market goes up and down in cycles.....it cannot shoot up perpertually. Look at what is happening to Hong Kong property market right now.
Be cautious when many people are bullish. Buy only if one has sufficent cash buffers. Don't end up being a slave to the banks.
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